Thursday, May 13, 2010

6 Steps to Reducing Your Student Loan Costs


Unless you are Donald Trump, everyone is worried about finances, debt, and the ability to pay back those loans. In a recent article by Kim Clark, "6 Steps To Reducing Your Student Loan Costs," students are advised about what they can be doing NOW in order to lessen the financial load.


If you can't get enough grants or scholarships, and have done all you can to reduce your costs, it may be a wise move to borrow—in moderation and carefully—for your graduate education. Studies show that graduate degrees often help boost career and earnings options. Still, because the economy is unpredictable, it's prudent to try to limit your debt. Here are some tips to reduce your graduate school debts.

1. Borrow as little as possible. Keep living expenses as low as possible and try not to borrow to fund them. Remember the old saying: If you live like a lawyer when you're a law student, you'll have to live like a law student when you're a lawyer.

2. Check out your future salary, and the earnings records of the graduates of your school, to see how much you can reasonably afford to put toward debt payments ... to continue reading the remainng four tips, click HERE.